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With this paper, our objective is to empirically study public debt sustainability by estimating a fiscal reaction function where the primary balance relative to GDP is assumed to be a function of the public debt to GDP ratio of the previous year and of other macroeconomic variables. In...
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Chapter 1. Introduction -- Chapter 2. Fiscal Policy and Government Debt in the 21st Century -- Chapter 3. European Debt Crisis and Flaws of the Euro Area -- Chapter 4. Sovereign Debt Channels in the Euro Area -- Chapter 5. European Fiscal and Debt Union -- Chapter 6. Specific Characteristics of...
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